Vingroup make $1.36b in consolidated net revenue

Thursday, Oct 31, 2019 14:24

VinMart+ is part of the Vingroup's consumer retail network, which made VND7.9 trillion in revenue in Q3, up 66 per cent year-on-year. — File Photo

Vingroup Joint Stock Company (Vingroup) announced that its consolidated net revenue was VND31.6 trillion (US$1.36 billion), increasing 35 per cent year-on-year in the third quarter (Q3) of this year.

The profit before tax was VND2.5 trillion, and profit after tax was VND712 billion.

As of October 30, total assets of Vingroup hit VND357.2 trillion and owners’ equity was VND125.4 trillion, up 24 per cent and 27 per cent, respectively compared to year end of 2018.

Revenue from sales of inventory properties in the period was VND15.3 trillion, up VND1.9 trillion, or 14.3 per cent year-on-year, mainly attributable to several big projects including Vinhomes Ocean Park, Vinhomes Skylake, Vinhomes Green Bay, Vinhomes Smart City, Vinhomes Star City Thanh Hoa, and Vincom Retail’s shophouses.

Vinhomes continued to make good progress with project development, further establishing its presence nationwide. In July, the Vinhomes Grand Park project was launched and immediately set a record on HCM City’s real estate market by successfully selling more than 10,000 units in only 17 days.

Meanwhile, revenue from leasing of investment properties and related services in Q3 was VND2.1 trillion, an increase of 35 per cent year-on-year. As of September 30, 2019, Vincom Retail owns and operates 70 retail malls in 39 cities and provinces throughout the country. By the end of this year, Vincom Retail’s network is expected to reach 79 malls.

Revenue from consumer retail was VND7.9 trillion, up 66 per cent year-on-year. The retail network continued to be expanded to close to 2,650 stores among VinMart, VinMart+ and VinPro brands, equivalent to 57 per cent increase in comparison with the same period last year.

Vingroup continued to earn remarkable achievements in its aspirations to become a Technology – Industrials group. After the launch of the e-scooter model Klara, VinFast released two new models namely Impes, Ludo with sports and city style, and set up nearly 1,500 battery exchange stations in 32 cities and provinces. In addition, Vingroup and FastGo Vietnam have signed a strategic cooperation agreement to initially roll out 1,500 VinFast Fadil cars for ride-hailing services.

In the smartphone segment, VinSmart introduced to the market four new models including Vsmart Bee, Star, Joy 2+ and Live. At the beginning of October, VinSmart launched its products in Russia with the strategic agreement with TFN Trading, making it the third export market of VinSmart. — VNS

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